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Buy physical gold; central banks are on its side, Jim Rickards says

Gold prices can go nowhere but up as central banks around the world try their utmost to spur inflation, author and gold market expert Jim Rickards said Monday.

"Every central bank in the world says they want inflation…they've come nowhere close...but that just means they are going to keep on trying; central banks cannot allow deflation because it increases the real value of debt… they are not going to rest until they get it," The James Rickards Project director told CNBC's "Squawk Box" on Monday.

Central banks from the European Central Bank to the Bank of Japan have pumped...